Saltus Group has bought Hertfordshire-based financial advice firm NSL Wealth for an undisclosed sum as part of its long-term growth strategy.
The deal marks Saltus’ second acquisition in the past six months after it snapped up Farnham-based firm Fish Financial. It is the firm’s first deal of 2022.
NSL Wealth was established by Syd Symonds in 1999 to offer independent financial advice. Fellow director Jordan Batchelar joined in 2009 and the business now offers a wide range of financial services and has £160m ($209m, €192m) in assets under management.
The acquisition, which follows Symonds’ decision to retire, sees Batchelar become a partner at Saltus, while Symonds will take a consultancy and advisory role to ensure a smooth transition.
Over the next few years, Symonds will gradually pass all aspects of his day-to-day role to Batchelar.
Jon Macintosh, managing partner at Saltus said: “The ten-year relationship between our two firms has allowed us to witness first-hand the expertise and professionalism of Syd and Jordan, and this has given us complete assurance that our two businesses are perfectly aligned.
“We are confident that Syd and Jordan’s skills and knowledge will complement our already established offering perfectly and are delighted to welcome the NSL Wealth team into the Saltus family.”
